This particular interpretation of the implications of quantum physics and the role of the 'observer', and what an 'observer' is, is by no means an issue that All, or even most physicists agree upon... however the field IS coming more and more to the conclusion that information itself is fundamental to the fabric of the universe... and information theory is becoming viewed as a critical factor in understanding quantum mechanics and other fundamental physical concepts.

I myself believe that Wheeler's views are closer to the reality of existence, but that reality is almost certainly even weirder than is dreamt of by Wheeler's philosophy... but all this is WAY outside of my field and training, so my opinions on this matter should be given little credence. Effectively my beliefs on this issue are ONLY beliefs based on my superficial understanding of the underlying physics, and are little better than someone's statement's on their religion... except I freely admit my 'religion' could be wildly wrong and has little factual basis beyond controversial philosophical interpretation of the physical data and I would eagerly change my 'religion' if better facts become available that disprove it.